Japan last week struck a trade deal with the U.S. that lowers tariffs on cars and other goods to 15% in exchange for a U.S.-bound $550 billion Japanese investment package.

BIG NEWS!  The U.S. and Japan have reached a trade agreement that will reduce tariffs on Japanese vehicles and auto parts to 15 percent-down from the 25 percent rate that was set to take

Japan's chief tariff negotiator Ryosei Akazawa speaks to the media after a meeting between Prime Minister Shigeru Ishiba and Treasury Secretary Scott Bessent in Tokyo, on July 18, 2025. Shuji Kajiyama/AP

Global stocks rose and the euro appreciated on Monday after a trade agreement between the United States and the EU lifted sentiment and provided some clarity in a week of key policy meetings by the Federal Reserve and the Bank of Japan.

President Trump's new trade deal with Japan includes a 15% tariff on exports to the U.S., up from earlier rates. CBS News MoneyWatch correspondent Kelly O'Grady breaks down how this could impact major automakers.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

A new Nissan Murano on your shopping list? Or perhaps the 2026 Mazda CX-5? Big price hikes may be coming for Japanese auto imports under the U.S.-Japan trade deal announced Wednesday.